So me and a couple of friends (I guess you could call it a band,) have made a very nice deal with a owner of an old factory, so through the summer we will use the factory basement for jamming (FOR FREE! )

The only problem is that it is a very large basement, and we are only going to use a small portion of it. Do you guys have any tips on how to create a concealed "room" where we don't get lots of sound reflection from the rest of the basement? I was thinking about hanging carpets from the ceiling and creating a closed space that way, but I'm not sure if it is the most effective way. Thoughts?

The basement is about half a football field in size.

Any help is very appreciated!
I would imagine that a large carpet would take off some of the harsh bright edge of the reverb. If the carpet is around 1.5cm thick then it might dampen frequencies above 5.6khz or so. It probably won't do much to a lot of the mids and low end frequencies. You're not going to create a recording studio quality with a carpet but if it's free carpet then it's all good.

If you're spending $$'s on carpet to hang then you could probably spend the money more wisely. Maybe on materials to build your own acoustic screens that you could put on a stand or something. You could then use them after the summer as a start to room treatment in your living room or bedroom or as an early reflection screen for recording vocals or something.

Then again with such a big room, you might really like the big dirty reverb.

Just some thoughts.